Shock To Jay Clayton, Ex-Chairman of SEC Who Files Ripple (XRP) Case: He Has To Support Ripple!

Fox Business journalist and producer Eleanor Terrett versus Ripple Labs, Brad Garlinghouse and Chris Larsen of XRP tweeted that former SEC chairman Jay Clayton, who sued for allegedly being a security, now indirectly supports XRP.

Clayton does this by working for Electric Capital, one of the companies that decided to offer the amicus briefing in support of Ripple Labs.

Clayton joined Electric Capital in August of this year as a consultant.

Hinman and Clayton Now Work for Companies That Support Ripple

Giving a speech in 2018 characterizing Ethereum as a non-security asset, the former director of the SEC, Dr. Bill Hinman had joined Andreessen Horowitz’s board of directors. This company and Electric Capital are members of the Crypto Council.

This organization was among four organizations in the past 24 hours who have requested to provide an amicus briefing in support of the XRP company.

Irony at its finest: Jay Clayton and Bill Hinman are now inadvertently supporting @Ripple through their associations with @ElectricCapital and @a16z which are both members of the @crypto_council.

“CCI thus represents the views of industry veterans…” 👇🏼https://t.co/hZXJsBBskT

— Eleanor Terrett (@EleanorTerrett) November 1, 2022

Alongside the Crypto Council, this request also came from Coinbase exchange, VC firm Valhil Capital, and CryptoLaw founder John E. Deaton.

Eleanor Terrett shared the ironic side of the situation, tweeting that Clayton and Hinman are currently “unwittingly supporting” Ripple:

“Irony at its finest: Jay Clayton and Bill Hinman unintentionally support Ripple through their relationship with @ElectricCapital and @a16z, both members of the Crypto Council.”

SEC, XRP altcoin He argues that his sales are in the nature of unregistered securities sales and therefore those responsible should pay penalties.

*Not investment advice.